Single-Family:
Sales were up a sharp 27% in june. The average sales price increased by 6% and the median sales price rose 9%. Pending sales increased a slight 2% The number of new listings fell by 14% and the active listings dropped 29%. The months of inventory now stands at 1.5 months. About 30% of the active listings are new construction.
Sales: 181
Average Sales Price: $344,890
Median Sales Price: $312,000
Pending Sales: 133
New Listings: 171
Active Listings: 190
Months of Inventory: 1.5
Leases:
Leases jumped by 50% in June. The average rent was flat while the median rent increased 8%. Pending leases rose 115%. The number of new listings increased 14% and the active listings by 51%. While these increases in inventory are nice the month of inventory only increased to 1.3 months.
Leases: 75
Average Rent: $1,933
Median Rent: $1,840
Pending Leases: 43
New Listings: 81
Active Listings: 59
Months of Inventory: 1.3
Information provided by The Real Estate Center at Texas A&M.
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